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LAND AUCTION - 207+/- ACRES OFFERED IN 9 TRACTS IN GIBSON & PIKE COUNTIES, INDIANA

Gibson & Pike Counties, Indiana

Owner:
6PM (CST) - 7PM (EST) Brittingham BK Estate
Thu, Oct 22, 6:00 PM

• 207+/- Acres offered in 9 Tracts • 122+/- Tillable Acreage (FSA) • Alford Soils • Wooded Acreage • Hunting Tracts • Grain Storage • Machine Sheds/Shop • 2 Homes • Located Between Princeton and Petersburg • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Tuesday, September 29 from 11am - 1pm CST
Wednesday, October 14 from 11am - 1pm CST

PROPERTY LOCATION

From Princeton: Take Hwy 65 north approx 7 miles to Ford Rd (Co Rd 500 N) turn east and proceed 4 miles to the property. From Petersburg: Take Hwy 56 west 6.7 miles to the jct of Hwy 56 & Hwy 65, continue on Hwy 65 1.5 miles to Coal Haul Rd (N Co Rd 700 W) turn south 2.5 miles to the property.

AUCTION LOCATION

Toyota Event Center/Gibson County Fairgrounds Exhibit Hall, 409 N Embree St, Princeton IN 47670.

TRACT DESCRIPTIONS

Tract 1: 40.5± ac with 35.6+/- cropland acres, the balance woods, frontage on Ford Rd & N 775 E.

Tract 2: 26.5± ac with 19.4+/- cropland acres, the balance woods, frontage on Ford Rd & N 775 E.

Tract 3: 78± ac with 39.6+/- cropland acres, the balance is wooded, with frontage on Ford Rd & N 775 E.

Tract 4: 22.5± ac with 10.6+/- cropland acres, a potential hunting tract access via Co Rd N 775 E.

Tract 5: 22.5± ac approx 50% cropland with the balance wooded, with frontage on Coal Haul Rd.

Tract 6: 10.00± ac with cropland and wooded acreage, frontage on Coal Haul Rd.

Tract 7: 4.00± ac this farm headquarters is improved with a 42 ft.x72 ft. steel shop, (2) machine doors, full concrete floor, propane overhead heat and electric, a 48 ft.x60 ft. steel sided pole building wiring machine doors and partial concrete floor, a 45 ft.x60 ft. 3 bay open face machine storage building, a 80,000+/- bushel grain storage and handling system consisting of 4 steel grain bins, unloading augers and aeration.

Tract 8: 1.00± ac improved with a single story brick home having 1200 square feet. There is a living room, kitchen with built in cabinetry, bathroom, 2 bedrooms and basement. The home has central air, propane heat and a 3 car garage with concrete floor and overhead doors. The address is 8450 E 500 N Francisco, IN.
Tract 8 will be conveyed subject to the life estate of Phyliss Brittingham.

Tract 9: 2.00± ac improved with a 28 ft.x70 ft. modular ranch style home with vinyl siding. There is a living room, kitchen, 3 bedrooms. 2 full baths. There is central air and heat. The park like setting has mature shade trees and 2 rustic barns. Public water is available.
Tract 9 is offered only as an individual tract. It cannot be combined with any other tract(s) for bidding purposes.

TRACT MAP(S)

AREA MAP(S)

BIDDING PROCEDURE: The property will be offered in 9 tracts. Bidding will be permitted on individual tracts and combinations of any two or more tracts, except that Tract 9 is offered only as an individual tract. Bidding will remain open on individual tracts and combinations until the close of the auction.

NO RESERVE: Seller has agreed to sell the real estate to the highest bidder(s) without reserve.

PURCHASE DOCUMENTS: Immediately after the bidding concludes, each high bidder will sign purchase documents in the form provided in the bidder packets. All information contained in the marketing materials, including this brochure, is subject to the final definitive terms to be set forth in the purchase documents.

PAYMENT TERMS: 10% earnest money on auction day. Balance of purchase price in cash at closing. BIDS ARE NOT CONTINGENT ON FINANCING, so be sure you have arranged financing, if needed, and are able to pay cash at closing.

CLOSING: The targeted closing date will be approximately 45 days after the auction.

DELIVERY OF TITLE: The real estate will be conveyed pursuant to a deed from the Ch. 7 Trustee, to be furnished at Sellers expense. Pursuant to an order of the US Bankr. Court, the real estate will be sold free and clear of all liens, claims and interests, except for the Life Estate (Tract 8 only) and the Farm Lease referenced below and except for existing easements and rights of way.

EVIDENCE OF TITLE: Owners title insurance will be furnished at Sellers expense. Preliminary title insurance schedules will be available for review prior to the auction.

LIFE ESTATE; TRACT 8: Tract 8 will be conveyed subject to the life estate of Phyllis Brittingham.

FARM LEASE: The crop land is subject to a Farm Lease which expires on 12/31/2020.

POSSESSION: Possession is at closing, subject to the Life Estate (Tract 8 only) and the Farm Lease referenced above.

REAL ESTATE TAXES: Seller will pay the estimated 2020 taxes (due in 2021) and any unpaid balance (and related penalties) for taxes and/or assessments due in 2020 or earlier.

MINERAL RIGHTS: Buyer will acquire any interest of Seller in the minerals. Seller does not own the coal rights. Oil and gas rights for all tracts are subject to the life estate of Phyllis Brittingham.

TRACT MAPS; ACRES: Pre-auction tract maps and acre estimates are approximations provided for identification and illustration purposes only. They are not provided as survey products and are not intended to depict or establish authoritative boundaries or locations.

SURVEY: A new survey will be obtained only if necessary to record the conveyance or otherwise deemed appropriate in Sellers sole discretion. If a new survey is obtained, the survey costs will be shared equally (50:50) by Seller and Buyer and the purchase price will be adjusted proportionately to reflect any difference between the pre-auction acre estimate and the final surveyed acres (unless the purchase includes buildings).

PROPERTY INSPECTION: Inspection dates have been scheduled and will be staffed with auction personnel. Seller and Auction Company disclaim any responsibility for the safety of prospective bidders and other persons during any physical inspection of the property. No person will be deemed an invitee with respect to the property by virtue of its being offered for sale.

THIS PROPERTY IS OFFERED AS IS, WHERE IS. NO WARRANTY OR REPRESENTATION IS MADE BY SELLER OR AUCTION COMPANY CONCERNING THE PROPERTY. Prospective bidders are responsible for conducting their own independent inspections, investigations, inquiries and due diligence concerning the property and their own independent verification of the information contained in this brochure and other marketing materials. Seller and Auction Company assume no liability for any inaccuracies, errors or omissions in such materials. Any sketches and/or statements regarding the size or dimensions of any tract or improvement are approximations only.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its affiliated agents represent only the Seller.

CONDUCT OF AUCTION: The conduct of the auction and bidding increments will be at the auctioneers direction and discretion. Seller and its agents reserve the right to preclude any person from bidding if there is any question as to the persons identity, credentials, fitness, etc. All decisions of the auctioneer at the auction are final.

CHANGES: Please arrive before the scheduled auction time to review any additional or updated information.

THE OFFICIAL AUCTION DAY ANNOUNCEMENTS WILL TAKE PRECEDENCE OVER THE MARKETING MATERIALS AND ANY OTHER PRIOR STATEMENTS.